On January $1,2025,$ Crane Company makes the two following acquisitions.

Purchases land having a fair value of $$310,000\mathrm{.}00$ by issuing a $4-$year, zero$-$interest$-$bearing promissory note in the face

amount of $$470,60179.$

Purchases equipment by issuing a $6\%,9-$year promissory note having a maturity value of $$340,000\mathrm{.}00($interest payable

annually$).$

The company has to pay $11\%$ interest for funds from its bank.